SAGA Metals Reports Assays from R-0047 to R-0049 with Intercepts Including 53.72% Fe2O3, 7.32% TiO2, 0.431% V2O5 from 2026 Drilling at Trapper South, Radar Critical Minerals Project in Labrador
Saga reports consistent broad oxide intercepts in the Trapper Zone, de-risking the deposit without providing new discovery data to re-rate the stock.
Saga Metals Corp. (SAGA) has released assay results from three diamond drill holes—R-0047, R-0048, and R-0049—at the Trapper South zone of its Radar Ti-V-Fe project in Labrador. The company has now received assays for 42 of the 63 holes comprising the 16,159-meter maiden resource estimate drill program, with core recovery reported at greater than 95%. No true widths are provided for these specific holes.
Key intervals reported include: - R-0047: 126.8 m @ 42.84% Fe2O3, 5.43% TiO2, 0.306% V2O5, including 68.4 m @ 46.81% Fe2O3, 6.17% TiO2, 0.335% V2O5. - R-0048: 92.3 m @ 42.46% Fe2O3, 5.38% TiO2, 0.304% V2O5, including 16.3 m @ 53.72% Fe2O3, 7.29% TiO2, 0.431% V2O5. - R-0049: 100.3 m @ 42.97% Fe2O3, 5.39% TiO2, 0.316% V2O5, including 26.5 m @ 53.91% Fe2O3, 7.22% TiO2, 0.431% V2O5.
Saga Metals Corp. (SAGA) released incremental drilling results that reinforce the continuity of the Trapper Zone deposit but do not materially alter the expected tonnage or grade. The company has completed 42 holes of assays and is approaching a maiden resource estimate. However, the market has already priced in the scale and grade of the Trapper Zone based on numerous earlier intercepts.
The stock price has been declining from its January 2026 high of $0.88, indicating that consistent infill drilling without a new discovery or step-out is not moving sentiment. Given the junior explorer stage, materiality requires either a discovery hole in a new zone or a significant resource upgrade; this release is neither.
Saga Metals Corp. is a Canadian junior explorer maintaining a portfolio of critical mineral projects across Labrador and Quebec. The company’s Radar Ti-V-Fe Project in Labrador covers 24,175 hectares and features a layered mafic intrusion with an oxide trend exceeding 20 kilometers, with work advancing toward a maiden resource.
In Labrador, the Wolverine REE Project encompasses 29,450 hectares and is characterized by heavy rare earth enrichment. Historic reverse circulation drilling returned grades up to 2.03% total rare earth oxides (TREO), while grab samples have yielded up to 21.6% TREO. Diamond drilling is scheduled to begin in August 2026.
The Legacy Lithium Project, located in James Bay, Quebec, spans 72,108 hectares and is in the early stages of exploration within lithium-cesium-tantalum pegmatites. In Labrador, the Double Mer Uranium Project covers 25,600 hectares and hosts high-grade surface uranium deposits up to 0.43% U3O8, with the site ready for drilling. Additionally, the Garneau Ti Project in Quebec covers 6,450 hectares and presents a drill-ready anorthosite-hosted ilmenite target.
Saga Metals currently generates no revenue and funds its exploration activities through equity raises. The company reports a robust cash position following financing completed in May 2026.